The Financial Services Regulatory Authority of Ontario (FSRA) is enabling the introduction of more flexible and innovative Usage Based Insurance programs that benefit consumers and encourage competition, such as pay-as-you-go or pay-per-mile (km) options.
FSRA is removing existing UBI guidance (Usage-based Automobile Pricing in Ontario, No. A-16/16 and No. A-05/13. This change does not affect any existing UBI programs or policies. All new or amended UBI programs must be approved by FSRA before becoming effective and those applications will continue to be subject to rigorous review. For more information, please refer to Private Passenger Auto Insurance Filing Guidelines-Major and Technical Notes.